Small Railroads in Trouble

Oh Dear, The Fat Controller is losing money.
From the Telegraph (such a quaint name for a newspaper) HIT loses $500m in pre-school TV market

“The owner of Thomas the Tank Engine, HIT Entertainment, has been forced to write $500m (£325m) off its value, wiping out the entire investment of private equity owners Apax Partners.”

… blaming a competitive pre-school market. I know our household purchases of Thomasana is down this year, mainly because there is nothing left to buy.
Will Warren Buffett be next?